Tech News & Commentary

Big Brother means big business for video surveillance firms

The market for video surveillance systems is hot thanks to concerns about terrorism and other crimes and the pressures on law enforcement to identify the perpetrators quickly.

Case in point: For the Winter Olympics in Sochi, Russia, Panasonic has supplied the largest quantity of security cameras in the history of the Olympic Games. In total, Panasonic has installed 6,903 security camera systems at Olympic facilities there. The Winter Olympics will run from Feb. 7 to 23.

The worldwide market for video surveillance gear is expected to grow by more than 12% this year, market research firm IHS (IHS) says. Revenue is expected to rise to $15.9 billion in 2014 from $14.1 billion in 2013. IHS predicts that the video surveillance equipment market will hit $23.2 billion in sales in 2017.

"During the past decade, the video surveillance equipment market has grown quickly, expanding at a double-digit rate in most years," IHS analyst Niall Jenkins said in a statement. "This year will be no exception, with growth led by strong demand for fixed-dome and 180/360-degree network camera products."

City surveillance and utility/energy-sector security will drive the biggest increases in sales, he says.

Tech trends in the industry include broader use of thermal cameras, embedded audio and use of Big Data analytics.

Average selling prices for video surveillance equipment are expected to fall by more than 10% this year, continuing a trend toward more affordable systems. The biggest drop in prices will be for un-cooled thermal cameras, which can see in complete darkness, IHS says.

The Sandy Hook Elementary School shooting in December 2012 has increased the demand for security camera systems that can be used by law enforcement to respond to and mitigate risks on site, IHS says. Previously, security systems were used as a forensic tool after incidents had taken place.

The top five makers in the video surveillance system market, in alphabetical order, are: Axis Communications, Bosch Security Systems, Hikvision, Panasonic Systems Communications and Samsung Techwin, according to IHS. No U.S. company made the top five. Axis is based in Sweden, Bosch in Germany, Hikvision in China, Panasonic in Japan and Samsung in South Korea.

The market for video surveillance systems is hot thanks to concerns about terrorism and other crimes and the pressures on law enforcement to identify the perpetrators quickly.

Case in point: For the Winter Olympics in Sochi, Russia, Panasonic has supplied the largest quantity of security cameras in the history of the Olympic Games. In total, Panasonic has installed 6,903 security camera systems at Olympic facilities there. The Winter Olympics will run from Feb. 7 to 23.

The worldwide market for video surveillance gear is expected to grow by more than 12% this year, market research firm IHS (IHS) says. Revenue is expected to rise to $15.9 billion in 2014 from $14.1 billion in 2013. IHS predicts that the video surveillance equipment market will hit $23.2 billion in sales in 2017.

"During the past decade, the video surveillance equipment market has grown quickly, expanding at a double-digit rate in most years," IHS analyst Niall Jenkins said in a statement. "This year will be no exception, with growth led by strong demand for fixed-dome and 180/360-degree network camera products."

City surveillance and utility/energy-sector security will drive the biggest increases in sales, he says.

Tech trends in the industry include broader use of thermal cameras, embedded audio and use of Big Data analytics.

Average selling prices for video surveillance equipment are expected to fall by more than 10% this year, continuing a trend toward more affordable systems. The biggest drop in prices will be for un-cooled thermal cameras, which can see in complete darkness, IHS says.

The Sandy Hook Elementary School shooting in December 2012 has increased the demand for security camera systems that can be used by law enforcement to respond to and mitigate risks on site, IHS says. Previously, security systems were used as a forensic tool after incidents had taken place.

The top five makers in the video surveillance system market, in alphabetical order, are: Axis Communications, Bosch Security Systems, Hikvision, Panasonic Systems Communications and Samsung Techwin, according to IHS. No U.S. company made the top five. Axis is based in Sweden, Bosch in Germany, Hikvision in China, Panasonic in Japan and Samsung in South Korea.

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